Bid4Assets to Host First-Ever Online Auction for Tax-Defaulted Properties for Sacramento County
Online auction scheduled for Feb. 25, with properties starting as low as $900
SACRAMENTO, Calif., February 15, 2019 (Newswire.com) - For the first time ever, online auction site Bid4Assets will host a tax-defaulted properties sale on behalf of the Sacramento County Tax Collector's Office. By moving online, the county is exposing this sale to a wider range of buyers in order to return more distressed properties to the tax rolls. Funds generated from the sale support essential county services, which can face shortfalls when taxes go unpaid.
“Transitioning our tax sale process online is a natural step for Sacramento County,” said Carlos Valencia, Sacramento County assistant tax collector. “Exposing tax-defaulted properties to a nationwide database of bidders gives the county a significantly better chance of returning them to productive use. Many other California counties have found success with Bid4Assets, so their platform seems like the ideal way to achieve this.”
Bidding opens online on Feb. 25 at 10 a.m. PT with 67 parcels available. Auctions will close at staggering times on Feb. 27 beginning at 3 p.m. PT.
“Bid4Assets has a long history of streamlining tax sales in California and we are thrilled to be doing the same for Sacramento County,” said Jesse Loomis, CEO of Bid4Assets. “Our platform brings a tremendous number of bidders from across the country to a group of properties that were previously only available at a live auction. Online sales are cheaper and easier, return more properties to the tax rolls and generally bring higher prices. The proceeds support essential county services.”
Bidders must register a free Bid4Assets account and fund a $5,035 deposit before they are able to participate in the sale and deposits are due by Feb.20. View the auction, including a list of the properties, at bid4assets.com/sacramento.
Bid4Assets (http://www.bid4assets.com) is an online auction site based in Silver Spring, Maryland. The privately held company auctions distressed real estate for the federal government, county tax-collectors, financial institutions and real estate funds. Bid4Assets is particularly active with county governments in California, where it has conducted tax-defaulted property sales for the counties of Monterey, Humboldt, Yolo, Napa, Riverside, San Francisco, Imperial, San Diego, Siskiyou, Fresno, Kings, Tulare, Santa Cruz and Los Angeles, to name a few. Since its inception in 1999, the company has sold more than 100,000 properties nationwide and grossed over a billion dollars in sales.
Bid4Assets Marketing Manager
Source: Bid4Assets Inc.